Opinions please

[ZenMaster_Flash]

" ... trying to show as many as possible as you have suggested.

Please sober up and re-read my post. Nowhere do I suggest the above.

[ZenMaster_Flash]

In VERY rare instances, the I.R.S. accesses C.T.R.'s, IF they are suspecting
terrorism, counterfeiting, gun-running, narcotics traffic'ing, etc.
I have been audited by the I R S and my C.T.R.'s were never brought up.
They are fully aware that nearly all such documentation is no more than a
sloppy and unreliable 'paper-trail' for well-heeled pathological gamblers.

[Freightman]

Linked is a Justice Department press release indicating that a Tommy Hyland team member was charged with structuring due to the nature of his transactions with Ameristar Casino in Missouri.

https://www.justice.gov/usao-wdmo/pr...ions-ameristar

I recall that. There was something more to that story, though I forgot what it was. Regardless, one thing is clear from the article. Winning 10k plus in one day, cashing chips over 2 days is structuring. Ain't worth the grief.

[bigplayer]

The issue was not the casino per se - I really want to stay out if Government gun sights.

You are admitting to a felony financial crime right here Freightman. You cannot structure your cash transactions with casino for the purposes of avoiding government oversight. You can structure for the purpose of avoiding casino oversight as long as you do not structure the rest of the time and also do not cash more than $10K during that gaming day. That is why many players go out of their way to NOT avoid to CTR at other times. (like at Casinos when being rated under their real name or at the bank).

It is unwise to discuss stuff like this in a public forum without carefully guarding what you say to avoid giving the wrong impression. My good AP friend had a big issue in Missouri with regards to cashing $9K over several days. The casino pulled all $500 chips off the floor and he was the only person with any of them. As he cashed them out they were able to track them straight to him no matter how many $2000 cashouts he did. Everytime the cage wound up with $8K to $9K in purple chips redeemed in a day they filed a Suspicious Activity Report with FINCEN. He was eventually charged with structuring and is still on probation 2 years later and has to call a probation officer to ask permission to go on a trip. In the end he got too aggressive in trying to maintain the right level of chip stockpile and never bothered to CTR at other times. He made the governments case for it and had to make a plea.

[NotEnoughHeat]

You are admitting to a felony financial crime right here Freightman.

Sorry to be a nit picker, but a crime requires actus reus 'the guilty act'. I agree though, it might not be the most prudent thing to potentially give evidence for the mens rea of a crime.

[Freightman]

You are admitting to a felony financial crime right here Freightman. You cannot structure your cash transactions with casino for the purposes of avoiding government oversight. You can structure for the purpose of avoiding casino oversight as long as you do not structure the rest of the time and also do not cash more than $10K during that gaming day. That is why many players go out of their way to NOT avoid to CTR at other times. (like at Casinos when being rated under their real name or at the bank).

It is unwise to discuss stuff like this in a public forum without carefully guarding what you say to avoid giving the wrong impression. My good AP friend had a big issue in Missouri with regards to cashing $9K over several days. The casino pulled all $500 chips off the floor and he was the only person with any of them. As he cashed them out they were able to track them straight to him no matter how many $2000 cashouts he did. Everytime the cage wound up with $8K to $9K in purple chips redeemed in a day they filed a Suspicious Activity Report with FINCEN. He was eventually charged with structuring and is still on probation 2 years later and has to call a probation officer to ask permission to go on a trip. In the end he got too aggressive in trying to maintain the right level of chip stockpile and never bothered to CTR at other times. He made the governments case for it and had to make a plea.

Appreciate the comment and thought behind it. Other than this extraordinary situation, have never tried to limit chips won - never played to the point where I had to. CAD tax laws differ from US tax law, so there is no issue on that point. I would never knowingly break the law. I've limited currency declarations to crossborder transportation from US to Canada, where an accumulation of wins made the declarations necessary. I've ctr'd those transactions to my USD dollar account at my local CDN bank branch, specifying source of funds, and with proof of original source by means of original USD withdrawal.

My comment was poorly worded and did not properly convey my intent. I do like to stay private in transactions, especially where casinos are involved to limit their knowledge of me - though I'm not really sure about how much they know or don't know, which is a discussion for another day.

In theory, at least in Canada, information collected by casinos for the purposes of government reporting is protected by privacy legislation. Information collected for this purpose is retained in casino files for a specified period of time. Is it really protected? - don't know.

[Three]

Even the King Kong U.S. Government is not going to go after somebody for just thinking about something.

But if he is from Canada were the mind police dwell. They police what you think.

[ZenMaster_Flash]

" ... never bothered to CTR at other times."

Yes indeed;
and that is why I have posted that I purposely make
large cash transactions at my banking institution; and
playing under my real name, [rare in recent years] has
created no headaches for me.

[pilotzone]

Does anyone know what happened in court to the Hyland player?


Sent from my iPad using Tapatalk

[RS]

You are admitting to a felony financial crime right here Freightman. You cannot structure your cash transactions with casino for the purposes of avoiding government oversight. You can structure for the purpose of avoiding casino oversight as long as you do not structure the rest of the time and also do not cash more than $10K during that gaming day. That is why many players go out of their way to NOT avoid to CTR at other times. (like at Casinos when being rated under their real name or at the bank).

It is unwise to discuss stuff like this in a public forum without carefully guarding what you say to avoid giving the wrong impression. My good AP friend had a big issue in Missouri with regards to cashing $9K over several days. The casino pulled all $500 chips off the floor and he was the only person with any of them. As he cashed them out they were able to track them straight to him no matter how many $2000 cashouts he did. Everytime the cage wound up with $8K to $9K in purple chips redeemed in a day they filed a Suspicious Activity Report with FINCEN. He was eventually charged with structuring and is still on probation 2 years later and has to call a probation officer to ask permission to go on a trip. In the end he got too aggressive in trying to maintain the right level of chip stockpile and never bothered to CTR at other times. He made the governments case for it and had to make a plea.

If I'm understanding this correctly -- your friend got nailed for "structuring" a $9k cash-out? AFAIK, doesn't structuring mean you're cashing out an excess of $10k to avoid a CTR? Since no CTR is required at $9k cash-out, shouldn't you legally be OK to cash out $1k or $2k at a time until you cash out all of your $9k in chips? In other words: It's impossible to try to avoid a CTR if you don't even have enough chips to generate a CTR. What am I missing?

[Ryemo]

If I'm understanding this correctly -- your friend got nailed for "structuring" a $9k cash-out? AFAIK, doesn't structuring mean you're cashing out an excess of $10k to avoid a CTR? Since no CTR is required at $9k cash-out, shouldn't you legally be OK to cash out $1k or $2k at a time until you cash out all of your $9k in chips? In other words: It's impossible to try to avoid a CTR if you don't even have enough chips to generate a CTR. What am I missing?

No, this guy got busted for making MULTIPLE $9K cash outs. He accumulated chips that went into the 6 figure range and structured his chip cashing. I've heard this story before, outside of this forum.